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Corporate Finance (Part II) (online)
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Course Outline

Week 1
      Net Present Value and Internal Rate of Return
      The investment decision
      Capital Asset Pricing Models

Week 2
      Capital Structure I - Financial Leverage
      Capital Structure II Optimization - Cost of Capital
      Dividends & Dividends Policy
      MidTerm exam (Homework Assignment)

Week 3
      Derivative Instruments and Their Use In Corporate Finance (Options Valuation)
      Final Exam

Detailed Curriculum

FOCUS 1: CAPITAL BUDGETING

Week 1: Net Present Value and Internal Rate of Return. The investment decision.
    Net Present Value
    Internal Rate of Return
    Methods for selecting among alternative investment proposals
    Discounted cash flow analysis and project's incremental cash flows
    Important toll for project analysis - break-even analysis, operating leverage and sensitivity analysis

Investment Project Analysis and Valuation
    Capital Asset Pricing Models
    Relationship between risk and expected return
    Projected cash flows valuation
    Investment risk analysis

FOCUS 2: COST OF CAPITAL AND LONG-TERM FINANCIAL POLICY

Week 2: Capital Structure

Capital Structure I - Financial Leverage
    Financing Options - external debt and equity financing; internal operating cahs flow
    Sources (Forms) of Equity Financing and Debt Financing
    Measures of Financial Leverage
    Cost/Benefit Analysis of Debt Financing
    The "Financing Hierarchy" Theory

Capital Structure II - Cost of Capital
    WACC (Weighted Average Cost of Capital)
    What is the Optimal Capital Structure
    The cost of debt
    Credit ratings
    How to Optimize the Capital Structure

MIDTERM EXAM

Dividends & Dividend Policy
    Measuring Dividend Policy
    When to Return Money to Shareholders?
    Share Buyback Vs. Dividents
    The Clientele Effect

FOCUS 3: INTERNATIONAL CORPORATE FINANCE

Week 3: Financial Leasing Valuation
    Leasing Analysis

FINAL EXAM

LEARNING SOLUTIONS